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of <h1>Buyers Must Deduct TDS on Property Purchases from Non-Residents Under Section 195; Penalties for Late Payments</h1> In India, when a non-resident or foreign company sells property, the buyer must deduct Tax Deducted at Source (TDS) under Section 195, regardless of the property's value. TDS rates for long-term capital gains (LTCG) are 20% before July 23, 2024, and 12.5% thereafter; short-term gains are taxed at applicable slab rates. TDS must be deposited within seven days of the month's end using Challan No./ITNS 281, and a TAN is required. TDS returns are filed quarterly using Form 27Q, and Form 16A is issued post-filing. Sellers can seek a certificate to reduce TDS or apply for a refund if over-deducted. Buyers must deduct TDS at each payment, with penalties for late payments.
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